Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. In the final edition of the year we look at a first Atlantic City sportsbook for one firm, Swedish licence revocation, and American Gaming Association encouragement.
Europe’s gambling revenue is set to drop by 23 per cent this year due to the major land-based declines caused by COVID-19.
According to new data published by the European Gaming and Betting Association, in partnership with H2 Gambling Capital, Europe’s total gambling revenue will drop from €98.6bn gross gaming revenue in 2019 to €75.9bn in 2020.
The data, covering EU-27 and UK markets, forecasts Europe’s online gambling revenue to increase by seven per cent this year, from €24.5bn GGR in 2019 to €26.3bn in 2020.
However, this will not compensate for Europe’ land-based decline, with revenue expected to drop by 33 per cent this year, from €74.1bn GGR in 2019 to €49.6bn.
Enlabs has maintained that the Swedish market “is of great interest” to the company, despite detailing the decision to voluntarily revoke its licenses for commercial online gaming and betting within the country.
The firm, which says that its current operations in the market are “very small” and that the measure will therefore only have a short term marginal impact on earnings, intends to reapply in the near future.
It is said that the reason behind the decision to voluntarily revoke its licenses is due to the need for technical development work linked to the company’s certified platform, with internal work having already begun.
Enlabs intends to apply for new licenses on behalf of a group company in 2021, and expects to be able to launch several dedicated brands for the Swedish market by the summer of next year.
The American Gaming Association has spoken of encouragement at the passage of new COVID-19 relief measures in the US, but warned that more needs to be done to provide “important relief for many Americans and businesses that continue to struggle”.
Representing the first congressionally approved aid since April, the $892m package is expected to be signed into law soon by President Donald Trump.
Media outlets report that the House of Representatives and Senate worked deep into the night to pass the bill, which stands at 5,593 pages, with the former approving first before the latter followed suit some hours later.
Great Canadian Gaming has documented that the group has entered into an amended arrangement regarding an impending buyout by funds managed by affiliates of Apollo Global Management.
Under the revision, Apollo Funds will acquire all the outstanding Great Canadian common shares for C$45 per share in cash, representing an approximate 15.4 per cent increase from the original purchase price of C$39 per share.
Shareholders holding approximately 50 per cent of Great Canadian’s outstanding common shares have entered into voting support agreements, pursuant to which they have committed to vote in favour of the transaction at the aforementioned amended purchase price.
Penn National Gaming has outlined a trio of retail sports betting debuts in Michigan and Indiana, with Greektown Casino Hotel, Hollywood Casino Lawrenceburg, and Ameristar East Chicago Casino & Hotel, to introduce the entities today (Wednesday 23 December).
Each Barstool sportsbook featuring a sports viewing area, redesigned dining space, betting counter that features large odds boards, numerous sports betting kiosks and ticket writer stations that will support thousands of sports wagering options.
In all three sports wagering venues guests will also be able to earn tier points and mycash using the company’s myChoice loyalty program when placing bets.
Colorado sportsbooks secured another entry into record books during November, after becoming the sixth state to surpass $225m in handle during a single month.
During the period the Centennial State’s sportsbooks took $231.2m in wagers, according to data released by the Colorado Department of Revenue’s Division of Gaming. That was up 9.7 per cent from the previous record of $210.7m set a month earlier, marking the seventh consecutive record month.
The record wagering also generated record revenue, as operators took in $18.4m, up 5.5 per cent from $17.4m in October. Colorado sportsbooks have now produced $58.7m in gross revenue since launching, with $35.8m of that coming in the last two months.
Bally’s Corporation and FanDuel Group have announced the opening of the FanDuel Sportsbook at Bally’s Atlantic City Hotel & Casino via a temporary offering, with design and construction on the permanent entity underway.
The temporary sportsbook, which will utilise FanDuel’s proprietary risk and trading technology that leverages the IGT PlaySports platform, is the first retail sports betting operation for the company in Atlantic City.
The FanDuel Sportsbook will initially feature six live odds boards, ten self-service IGT PlaySports betting kiosks, and three live betting windows with attendants available to assist customers with the sports betting process.
It will permit bets on all major US sports, including professional baseball, soccer, football, basketball, golf, boxing, motorsports racing, and more, and operate in accordance with all CDC and local health guidelines and protocols.
The sportsbook development represents the first capital improvement project at the property, after Bally’s completed the long-mooted purchase last month.